PHOENIX, Dec. 19, 2014 /PRNewswire/ -- Republic
Services, Inc. (NYSE: RSG) and Calgary,
Alberta-based Tervita Corporation announced today that the
companies have entered into a definitive agreement whereby a
subsidiary of Republic Services will acquire Tervita, LLC
("Tervita"), a subsidiary of Tervita Corporation. Tervita is a
leading pure-play environmental waste solutions provider serving
oil and natural gas producers in the
United States.
Tervita's geographic footprint spans across some of the most
attractive domestic basins, including the Permian, Eagle Ford and
Bakken. Tervita provides oilfield waste services to its diverse
customer base and operates three types of waste management and
disposal facilities: treatment, recovery and disposal (TRD)
facilities; engineered landfills; and salt water disposal (SWD)
injection wells. Additionally, Tervita provides closed loop solids
control systems and transportation services.
"The acquisition of this vertically integrated operation allows
Republic Services to establish a significant platform in the
E&P waste sector and positions us well for future growth
opportunities," said Donald W.
Slager, president and CEO of Republic Services.
"Additionally, Tervita's environmentally committed operations
complement our core competency and expertise in waste handling,
recovery and disposal."
"Over the last decade we have built a broad U.S. footprint with
a strong reputation for high quality services, a deeply experienced
employee base and a strong commitment to safety," said Tervita
Corporation President & CEO, John W.
Gibson, Jr. "As we now focus our strategic efforts on
growing our expansive Canadian operations, we believe that Republic
Services, a company with high expertise and integrity, is best
positioned to realize Tervita's U.S. growth potential."
Tervita, through its approximately 500-person skilled U.S.
workforce, has an exceptional track record of safety and regulatory
compliance across its entire operational footprint. Tervita is
committed to operational best practices and has reinforced its
strong reputation as a reliable, high quality service provider.
J.P. Morgan Securities LLC acted as exclusive financial advisor
to Republic Services and Goldman, Sachs & Co. acted as
exclusive financial advisor to Tervita Corporation on this
transaction.
About Tervita Corporation:
Tervita Corporation is a
leading North American environmental solutions provider. Its
integrated earth, water, waste and resource solutions deliver safe
and efficient results through all phases of a project by minimizing
impact, maximizing returns.™ More than 3,000 dedicated employees
are trusted sustainability partners to oil and gas, construction,
mining, government and communities. Safety is its highest priority:
it influences its actions and shapes its culture.
About Republic Services:
Republic Services, Inc. is
an industry leader in U.S. non-hazardous recycling and solid waste.
Through its subsidiaries, Republic's collection companies, transfer
stations, recycling centers and landfills focus on providing
reliable environmental services and solutions for commercial,
industrial, municipal and residential customers. Republic and its
employees believe in protecting the planet and applying common
sense solutions to customers' waste and recycling challenges. For
more information, visit the Republic website at
republicservices.com.
For more detailed transaction information, visit Republic
Services' Investor Relations pages, located on its website.
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SOURCE Republic Services, Inc.